economic impact analysis: route 54 expressway
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8/7/2019 Economic Impact Analysis: Route 54 Expressway
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CUMULATIVE NET GENERAL REVENUE 0.06 : 1.00 $8.817 million
CUMULATIVE PERSONAL INCOME 1.44 : 1.00 $210.970 million
CUMULATIVE VALUE-ADDED / GSP 2.46 : 1.00 $361.208 million
CUMULATIVE ECONOMIC OUTPUT 4.00 : 1.00 $587.231 million
ANNUAL EMPLOYMENT 150 at an average wage of $24,102
ANNUAL NET GENERAL REVENUE $0.187 million
ANNUAL PERSONAL INCOME $5.274 million
ANNUAL VALUE-ADDED / GSP $9.030 million
ANNUAL ECONOMIC OUTPUT $14.681 million
ECONOMIC IMPACT ANALYSIS FOR MISSOURI
Route 54 Expressway
CUMULATIVE ECONOMIC IMPACT ACROSS MISSOURI
AVERAGE ANNUAL ECONOMIC IMPACT ACROSS MISSOURI
Benefit Ratio 20-Year Total
Our mission is to provide a w orld-class transportation experience that delights our
customers and promotes a prosperous Missouri. MoDOT's Route 54 Expressway will create a new four lane road structure around the current Route 54. The purpose
of the project is to reduce traffic congestion throughout the Lake of the Ozarks region while maintaining access to the
business districts. The project will cost an estimated $146.7 Million and construction will take place over a five-year
period.
Over 20 years, every dollar of Route 54 Expressway investment returns:
$0.06 in new net general revenues to the State of Missouri totaling $8.8 million
$1.44 in new personal income to Missourians totaling $211.0 million
$2.46 in new value-added (GSP) to Missouri's economy totaling $361.2 million
$4.00 in new economic activity (output) to Missouri's economy totaling $587.2 million
On average each year , the project creates 150 new jobs annually paying an average wage of $24,102 per job,
generates $0.2 million in new net general revenues annually, $5.3 million in new personal income annually, $9.0million in new value-added to the economy annually, and $14.7 million annually in new economic activity.
Location of Route 54 Expressway
CONSTRUCTION PHASE
Average Annual Employment Impact
OPERATIONS PHASE
Average Annual Employment Impact
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Date Completed 14-Dec-07
Requested by MoDOT
Route 54 Expressway
ANNUAL ECONOMIC IMPACTS (2007$) 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041
Employment 268 271 275 0 0 0 0 0 0 0 0 0 0
Population 352 363 375 0 0 0 0 0 0 0 0 0 0
Wage and Salary Income $6,651,766 $6,759,853 $6,852,668 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Personal Income $10,656,516 $10,932,602 $11,225,788 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Value-Added/Gross State Product $20,871,488 $21,393,275 $22,119,240 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Economic Output $33,167,517 $34,403,926 $35,311,382 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
ANNUAL FISCAL IMPACTS (2007$) 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041
General Revenues $887,838 $903,886 $924,811 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
General Expenditures ($618,245) ($644,534) ($669,777) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net General Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Project Investment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
CUMULATIVE BENEFIT-COST (2007$) 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041
Cumulative Net General Revenues $8,302,536 $8,561,888 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922
Cumulative General Revenues $8,302,536 $8,561,888 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922 $8,816,922
Net General Revenue Benefit Ratio 0.06 0.06 0.06 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Cumulative Total Personal Income $188,812,090 $199,744,692 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479 $210,970,479
Personal Income Benefit Ratio 1.29 1.36 1.44 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Cumulative Gross State Product $317,695,238 $339,088,513 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753 $361,207,753
Gross State Product Benefit Ratio 2.17 2.31 2.46 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Cumulative Output $517,515,291 $551,919,216 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598 $587,230,598
Output Benefit Ratio 3.53 3.76 4.00 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Cumulative State Incentives (Cost Factor) $146,692,993 $146,692,993 $146,692,993 $146,692,993 $146,692,993 $146,692,993 $146,692,993 $146,692,993 $0 $0 $0 $0 $0
ECONOMIC IMPACT ANALYSIS
FOR MISSOURI
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Route 54 Expressway
ANNUAL FISCAL IMPACTS (2007$) 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
State General Revenues
Individual Income Tax $6,643 $7,372 $6,573 $6,700 $5,625 $5,699 $5,341 $5,942 $5,569 $5,357 $5,731 $4,704
Corporate Income Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Direct Sales Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Indirect Sales & Use Tax $6,261 $6,947 $6,194 $6,314 $5,301 $5,371 $5,034 $5,599 $5,248 $5,048 $5,401 $4,433
Other Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Charges & Revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Revenues $12,904 $14,319 $12,767 $13,014 $10,926 $11,070 $10,375 $11,541 $10,817 $10,405 $11,132 $9,138
State General Expenditures
Higher Education $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Elementary & Secondary Education $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Social Services $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Health & Mental Health $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Transportation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Public Safety & Corrections $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Natural Resources & Conservation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Administration & Other Departments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Debt Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Expenditures $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Expenditures $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
State Incentives $12,904 $14,319 $12,767 $13,014 $10,926 $11,070 $10,375 $11,541 $10,817 $10,405 $11,132 $9,138
Net State General Revenues $25,808 $28,639 $25,534 $26,027 $21,851 $22,139 $20,750 $23,082 $21,634 $20,810 $22,263 $18,276
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Route 54 Expressway
ANNUAL FISCAL IMPACTS (2007$) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
State General Revenues
Individual Income Tax $7,233 $30,298 $32,177 $113,480 $208,270 $563,602 $458,132 $257,051 $215,561 $241,338 $265,164 $288,271
Corporate Income Tax $0 $0 $0 $32,657 $50,229 $78,185 $59,788 $25,194 $30,830 $42,496 $52,807 $62,029
Direct Sales Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Indirect Sales & Use Tax $6,817 $28,553 $30,324 $31,355 $59,416 $172,114 $138,779 $80,077 $103,310 $117,217 $129,489 $142,460
Other Tax $0 $0 $0 $4,815 $8,356 $22,871 $18,896 $11,091 $11,543 $12,673 $13,731 $14,788
Other Charges & Revenues $0 $0 $0 $3,185 $5,226 $14,306 $11,820 $6,939 $7,218 $7,922 $8,584 $9,248
Other Revenues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Revenues $14,050 $58,852 $62,501 $185,493 $331,497 $851,077 $687,415 $380,352 $368,462 $421,646 $469,774 $516,796
State General Expenditures
Higher Education $0 $0 $0 ($1,104) ($3,381) ($10,057) ($14,645) ($16,575) ($18,054) ($20,005) ($22,296) ($24,812)
Elementary & Secondary Education $0 $0 $0 ($3,425) ($10,393) ($30,932) ($45,043) ($50,979) ($55,508) ($61,536) ($68,550) ($76,294)
Social Services $0 $0 $0 $60,006 $106,908 $280,158 $193,071 $62,707 ($22,460) ($11,851) ($3,536) $1,239
Health & Mental Health $0 $0 $0 ($976) ($2,985) ($8,879) ($12,930) ($14,634) ($15,939) ($17,664) ($19,677) ($21,905)
Transportation $0 $0 $0 ($15) ($45) ($135) ($197) ($223) ($243) ($269) ($300) ($334)
Public Safety & Corrections $0 $0 $0 ($1,020) ($3,122) ($9,287) ($13,525) ($15,312) ($16,668) ($18,475) ($20,580) ($22,912)
Natural Resources & Conservation $0 $0 $0 ($11) ($41) ($123) ($179) ($202) ($220) ($244) ($272) ($303)
Administration & Other Departments $0 $0 $0 ($3,331) ($10,331) ($30,737) ($44,766) ($50,671) ($55,169) ($61,156) ($68,129) ($75,821)
Debt Interest $0 $0 $0 ($103) ($340) ($1,013) ($1,475) ($1,669) ($1,818) ($2,015) ($2,244) ($2,498)
Other Expenditures $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Expenditures $0 $0 $0 $50,020 $76,268 $188,994 $60,312 ($87,558) ($186,078) ($193,216) ($205,584) ($223,639)
State Incentives $14,050 $58,852 $62,501 $235,514 $407,766 $1,040,071 $747,727 $292,794 $182,384 $228,431 $264,191 $293,158
Net State General Revenues $28,100 $117,703 $125,003 $471,027 $815,531 $2,080,143 $1,495,455 $585,588 $364,768 $456,861 $528,381 $586,315
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